$500,000
St. Ignace, MI 49781
MLS# 22-275
Status: Sold
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Property Description
What a great investment opportunity! Located within 3 miles of the Bridge and 3.5 miles from the Ferry, this motel property has been converted to a 9-unit efficiency apartment building allowing for consistent & steady cash flow. The 5 one bedroom units lease for $650 and the 4 two bedroom's lease for $700. The upper level unit is ideal for an onsite managers unit complete with a 608' deck with views of the Lake! There is an onsite coin laundry for all units to use. Tenants pay for electric which is heat and water, owner pays for cable, internet and water currently. Leases are all on a month to month basis, but long tern rental history for most. Last unit (2nd level) will be leased as of June 1st. Sale to include parcel #008-023-026-10 & 008-900-072-00.
Details
Documents
Contract Information
Current Price: $500,000
List Date: 2022-04-21
List Price: $500,000
Status: Sold
For Sale or Rent: For Sale
Property Information
Type: Apartments
Realtor.com Type: Multi-Family
Garage: No
Utilities: Separate
Number of Units: 9
Lot Size: 1.9 acres
Source of sq. ft.: Assessor
Total finished sq ft: 5656
Abv grade fin sq ft: 5656
Waterfront: No
Water View: Yes
Lake/Rvr/Creek/Strm: Lake Michigan
Year Built: 1958
Duplicate: No
Directions and Remarks
Directions: I-75 north to US-2, east to property
Hot Sheet Comment: new
Unit 1
# Bedrooms: 1
# Baths: 1
Rent: 700
Aprox SqFt: 1064
Location: 2
Occupied: Yes
Appliances Incl: Fridge, range
Unit 2
Rooms: 4
# Bedrooms: 2
# Baths: 1
Rent: 700
Aprox SqFt: 1064
Location: 1
Occupied: Yes
Appliances Incl: Fridge, Range
Unit 3
Rooms: 3
# Bedrooms: 1
# Baths: 1
Rent: 650
Aprox SqFt: 450
Location: 1
Occupied: Yes
Appliances Incl: Fridge, Range
Unit 4
Rooms: 3
# Bedrooms: 1
# Baths: 1
Rent: 650
Aprox SqFt: 450
Location: 1
Occupied: Yes
Appliances Incl: Fridge, Range
Unit 5
Rooms: 3
# Bedrooms: 1
# Baths: 1
Rent: 650
Aprox SqFt: 450
Location: 1
Occupied: Yes
Appliances Incl: Fridge, Range
Unit 6
Rooms: 3
# Bedrooms: 1
# Baths: 1
Aprox SqFt: 450
Location: 1
Occupied: Yes
Rent: 650
Appliances Incl: Fridge, Range
Location Tax and Legal
Area: 68 - St. Ignace Area
Unit #/St #/Space #: 1091
Street Name: US-2
State: MI
Zip Code: 49781
County: MACKINAC
Sold Info
Sold Date: 2022-07-07
Property Features
Documents on File: Lead Base Paint; Seller's Disclosure
Occupancy: Tenant
Construction: Frame
Exterior: Aluminum
Util Pd By Owner: Water; Cable
Miscellaneous: Separate Meters
Number of Stories: Two
Possession: Closing
U1 Features: Fireplace; Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath
U2 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath
U3 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath
U4 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath
U5 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath
U6 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath
Showing Instructions: Appointment Only
Lead based paint disclosure 
Listing Office: OUTSIDE OFFICE
Listing Agent: AGENT OUTSIDE
Last Updated: August - 27 - 2024
Information deemed reliable but not guaranteed.